The Sason Organization Secures $3.1 Million Construction Loan For Development Site In Baltimore

The asset involved in this transaction is a development site located at 900 South Wolfe Street in Baltimore, MD. The total square footage of the site is 31,000. The transaction is associated with a loan amount of $3,100,000 designated for construction purposes, under a 24-month term, featuring interest-only payments.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,100,000
• Market: Baltimore, MD
• Landlord: The Sason Organization
• Loan Type: Construction
• Loan Terms: Non-recourse loan, 24-month term, interest-only payments
• Brokers: Matthew (Matt) Dzbanek & Matthew Swerdlow - Ariel Property Advisors

Ariel Property Advisors facilitated the financing for The Sason Organization's redevelopment project, which aims to transform the property into an urban wellness destination operated by Timbre. The redevelopment will include wellness services and a dedicated 10,000-square-foot event space.